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Real Estate Reading Room [Real Estate Investing]
Articles and Advice about Real Estate Investing from Real Estate Reading Room

The Divine Secrets Of The Ya Ya Lease Purchase Hood
by Chuck and Sue DeFiore

The biggest secret of conducting a successful lease purchase business is to have a plan. I know don't groan. You need to know what you want to do however, before you can do it.

So secret number 1 is to have a plan of action. Set up daily goals for yourself. (For example, I want to make 50 calls today, or I want to spend 20 minutes on the telephone, or I want to send out 75 emails, you get the idea). Just be sure that your goals are realistic.

Secret number 2 is to Write down everything you want to accomplish on Monday, Tuesday, etc., the time you want to do what (for example 8 a.m. to 9 a.m.- work on FSBO sites). Have a To do list, and update it every day.

Secret number 3 is to have a tickler file. A tickler file will help keep you organized, keep your desk clean, and be sure you don't forget to do something. Remember a tickler file tickles your memory. It is a accordion file with 31 days, you make up the manila folders with the months (or you can buy them with the months on the files already), and put your to do list for the next day in the tickler file, meetings for a particular day of the month in the tickler file. It is especially great for things you do on a consistent basis. For more information on what a tickler file is and how to use it, check the article on our website at http://www.homebusinesssolutions.com/articles

Secret number 4 is to have a chron file. A chron file will help you find information quickly. It contains all correspondence you have generated for a month by date. It is a great time saver. Keep it in your desk or in a stand up on your desk.

Secret number 5 is to set up a good filing system. I am not going to go into detail on how this is done in this article, as this was already done in a previous article and can be found on our website in our article archives.

Secret number 6 is to have a good telephone script. Be sure your script asks for all the information you need to make an informed decision as to whether or not there is a deal, and whether or not it is a good deal. You want this information before you leave for an appointment. Remember you don't make an appointment unless you are going to get a contract signed.

Secret number 7 is to make the calls and send the emails. You need to make the calls and to send your emails out on a consistent basis. In any business you need to continuously market to get new business.

Secret number 8 is to follow up. After you have made your telephone calls -follow up. Send a letter, a brochure, a newsletter, whatever you decide works best for you. But if you don't follow up, you will lose a ton of business. I can guarantee it.

Secret number 9 is to have fair agreements and contracts. Your contracts and any and all of your agreements must be fair to all parties. If they are not, again, I guarantee you will have problems on a number of fronts.

Secret number 10 is to only do good business. We can't emphasize this enough. It has to be a good deal for the seller, a good deal for the tenant buyer and a good deal for you. All parties must be happy and feel they got what they wanted. If not, again I can guarantee you will have problems, and will not be in business for very long.

Secret number 11 is to stick to your plan. Remember the plan you made up to start with, well follow it. It's what you made it up for. So use it. Study it. If you need to revise it, do so. However, if you aren't going to follow it and do so religiously you are not going to be in business for a very long.

Remember the #1 secret of the Ya Ya Lease Purchase Hood is to implement that plan.


Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 17 years, and we can help you too! To see how, visit www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe

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